Why establish a HELOC with EdFed?

 Put More Cash in Your Pocket and Save with a Home Equity Loan¹ or Line of Credit² from EdFed!

EdFed Members Have Even More Ways to Save!

As an EdFed member, you can also take advantage of our full range of loan solutions designed to meet your needs. Choose from Auto, Mortgage, and Personal Loans.

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EDUCATIONAL FEDERAL CREDIT UNION

Member Contact Center: 305-270-5250

Toll-Free: 1-855-2EDFED8

All loans are subject to approval based on creditworthiness, ability to repay, credit score, repayment period and equity in home.

¹Home Equity Fixed Rate Loans are available for owner-occupied primary residences located in the State of Florida only. Homeowners insurance is required; flood insurance is required where necessary. You must reimburse EdFed for out-of-pocket origination expenses if your average daily loan balance falls below $10,000 during the first 12 months. Additional terms and conditions apply. Offer may be withdrawn without notice.

² Home Equity Lines of Credit available for owner-occupied primary residences located in the State of Florida only. The maximum line amount is $300,000. Homeowners insurance is required; flood insurance is required where necessary. You must reimburse EdFed for out-of-pocket origination expenses if your average daily loan balance falls below $10,000 during the first 12 months. Additional terms and conditions apply. 

³Must be member’s primary residence, located in Florida and owner-occupied. No portion of the home can be under construction. Eligibility for the lowest rate and loan approval is based on creditworthiness, ability to repay, credit score and repayment period. Borrowers will receive a rebate of $25 for every $10,000 of new balances funded on a qualifying Home Equity Line of Credit and Home Equity Fixed Rate Loans. Minimum funding/advance required to qualify for this offer is $10,000. Maximum rebate amount is $750 per loan. Rebate will be deposited in the borrower's Prime Savings 90 days after initial loan funding. Loans closed prior to the 90-day period will be disqualified.

⁴Home Equity Lines of Credit is available for owner-occupied primary residences located in the State of Florida only. The Home Equity Line of Credit is a variable rate loan. Currently, the APR for a Home Equity Line of Credit starts as low as 7.75%. The variable APR applicable to your account will be indexed to the highest Prime Rate published in the Money Rates Section of The Wall Street Journal in effect fifteen days prior to the first day of each calendar quarter of each year. The APR will increase no more than 1% at any change period and no more than 2% annually. The maximum APR is 18.00% and will never be less than 2.99%.  The maximum line amount is $300,000. The term of the line includes a 10-year draw period with a 10-year repayment period. Homeowners insurance is required; flood insurance is required where necessary. Minimum initial draw is $10,000 and subsequent minimum draws are $100. You must reimburse EdFed for out-of-pocket origination expenses if your average daily loan balance falls below $10,000 during the first 12 months. Additional terms and conditions apply. Offer may be withdrawn without notice.

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